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Ask HN: So, Bitcoins - would you still buy them?
I am fascinated by Bitcoins. I set up my wallet last year, but never bought them (yeah, I know. Idiot). But I am still fascinated by the whole concept and I'm thinking of buying one or two.
The only thing is - I have no experience in trading stocks and this rapid growth looks to me like some kind of bubble. So, HN, what do you think - is the growth somehow sustainable or will this thing burst?
(edit, somehow only half of my entry was posted. Sorry for that.)
- chrislas 14y agoAs long as you have the funds to spare. Just don't invest anything you can't afford to loose. That's what I do. I agree, it's very fascinating to watch a digital currency come into use. I've bought two cell phones, and a video card using bitcoins. And I've hired a developer for a day with bitcoins. So I see some value besides just investing in them, which also was a bit more incentive.
- jagermo 14y agoYeah, I wanted buy them and then just see what I can do with it. It just looks fun to have them and play with a digital currency.
- dangrossman 14y agoIf you were planning on buying $50 worth of BTC last year, you can buy $50 worth today. Don't think about buying "one or two". There's no benefit to having whole numbers.
- jagermo 14y agoAh, good idea.
- gonepostal 14y agoThis is my whole problem with Bitcoin. Too many people see it through an "investment lens". Bitcoin is supposed to be a currency not an investment at it's heart: "Used as a medium of exchange for goods and services, currency is the basis for trade." People's perception coupled with the deflationary nature of Bitcoin makes me not want to participate.
- jagermo 14y agoI think I phrased myself wrong. For me it is not an investment (as in: Buy now get rich), but more a experiment or plaything. I'm just not sure if I shouldn't wait another month or to for the BTCs to get drop again. On the other hand, they are just money, so if I have BTC worth 50 USD i should be able to buy stuff worth 50 USD (using more or less BTCs). I just need to wrap my mind around it.